French manufacturing output decreased by 0.5% in May

According to the report from Insee, in May 2021, output decreased in the manufacturing industry (–0.5%, after –0.1%), as well as in the whole industry (–0.3%, after +0.1%). Economists had expected a 0.8% increase in the whole industry.

Compared to February 2020 (the last month before the first general lockdown), output remained in sharp decline in the manufacturing industry (–6.9%), as well as in the whole industry (–5.6%).

In May, output fell back sharply in the manufacture of transport equipment (–5.4% after –0.8%) due to shortages of raw materials in the automotive industry. It decreased more moderately in the manufacture of machinery and equipment goods (−0.8% after +0.9%) and in “other manufacturing” (–0.2% after –0.3%). On the contrary, it continued to grow in the manufacture of food products and beverages (+1.4% after +0.1%) and in mining and quarrying, energy, water supply (+0.9% after +1.1%). Output recovered in the manufacture of coke and refined petroleum (+5.2% after −1.0%).

In May 2021, output remained in sharp decline compared to its February 2020 level in most industrial activities. It slumped in the manufacture of transport equipment (−29.7%), both in the manufacture of other transport equipment (−30.0%) and in the manufacture of motor vehicles, trailers and semi-trailers (−29.2%). It also plummeted in the manufacture of coke and refined petroleum (−13.3%).